ACEN secures ₱34.41B loan for Quezon North wind farm
Ayala-led ACEN Corp. announced that its subsidiaries, ACEN Global Development Group Inc. and GIGA ACE 6 (GA6), secured a ₱34.41-billion loan agreement with BPI, BDO, and RCBC to finance the Quezon North wind project.
The 344.5-megawatt peak (MWp) wind farm is located in the municipalities of Mauban, Real, Paete, and Kalayaan in Quezon and Laguna provinces.
ACEN acquired this project from Real Wind Energy Inc. (RWEI) last August and it will add 500 MW to ACEN's generation portfolio.
In December, wind turbine provider Envision Energy partnered with ACEN for the design, engineering, manufacturing, and delivery of high-performance wind turbines for the project.
ACEN also signed a ₱350-million term loan facility to fund its subsidiary Amihan Renewable Energy Corp.'s working capital requirements for the Capa Wind project in Ilocos Norte.
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